Medical Devices - Zimbabwe | Statista Market Forecast

The projected revenue in the Medical Devices market market in Zimbabwe is estimated to reach US$69.75m in 2024.
The largest market within the Medical Devices market market in Zimbabwe is Cardiology_Devices, which is expected to have a market volume of US$8.92m in 2024.
The revenue in the Medical Devices market market in Zimbabwe is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 2.46%, resulting in a market volume of US$78.76m by 2029.
When compared globally, the United States is expected to generate the highest revenue in the Medical Devices market market, with an estimated revenue of US$181.00bn in 2024.
Despite economic challenges, Zimbabwe's medical device market is poised for growth due to increasing demand for advanced healthcare technologies.

Definition:
The Medical Devices market includes instruments and machines helping for the prevention, diagnosis, and treatment of diseases. This market is further broken down into 6 submarkets according to medical specialties or types of application. Medical devices that treat the heart, such as pacemakers, can be found in the Cardiology Devices market. The Diagnostic Imaging market covers machines and instruments for diagnosis of many different kinds of conditions. Devices for orthopedic applications, such as joint implants, are included in the Orthopedic Devices market. Ophthalmic Devices are devices used for conditions related to the eye. The General & Plastic Surgery Devices covers many different products required for surgeries. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Siemens Healthineers.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Active medical devices (i.e., operating with electrical energy)

Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Products for laboratory testing (IVD)

The Medical Devices market in Zimbabwe is experiencing significant growth and development.

Customer preferences: Customers in Zimbabwe are increasingly demanding high-quality and technologically advanced medical devices. They are looking for devices that are accurate, reliable, and easy to use. There is also a growing preference for devices that are portable and can be used in remote areas with limited resources. Additionally, customers are increasingly seeking devices that are affordable and cost-effective, as the healthcare system in Zimbabwe faces financial constraints.

Trends in the market: One of the key trends in the Medical Devices market in Zimbabwe is the increasing adoption of digital health technologies. This includes the use of mobile health applications, telemedicine, and wearable devices. These technologies are helping to improve access to healthcare services, especially in rural areas where there is a shortage of healthcare professionals. They are also enabling remote monitoring of patients, which is particularly important in managing chronic diseases. Another trend in the market is the growing demand for diagnostic devices. With the increasing burden of diseases such as HIV/AIDS and malaria, there is a need for accurate and efficient diagnostic tools. This includes devices for testing blood, urine, and other bodily fluids. The demand for diagnostic devices is also driven by the need for early detection and prevention of diseases.

Local special circumstances: The Medical Devices market in Zimbabwe faces several unique challenges. The country has a limited healthcare budget and faces economic instability, which affects the affordability and accessibility of medical devices. Additionally, the healthcare infrastructure in Zimbabwe is underdeveloped, particularly in rural areas. This poses challenges in terms of distribution and maintenance of medical devices. There is also a shortage of skilled healthcare professionals, which affects the adoption and effective use of medical devices.

Underlying macroeconomic factors: The growth and development of the Medical Devices market in Zimbabwe are influenced by several macroeconomic factors. These include the overall economic growth of the country, government healthcare policies, and investment in healthcare infrastructure. The political stability and regulatory environment also play a crucial role in attracting investments and promoting the growth of the market. Additionally, the availability of funding and financial support for healthcare projects and initiatives impact the adoption of medical devices. In conclusion, the Medical Devices market in Zimbabwe is experiencing growth and development driven by customer preferences for high-quality and technologically advanced devices. The increasing adoption of digital health technologies and the demand for diagnostic devices are key trends in the market. However, the market faces challenges due to limited healthcare budgets, economic instability, and underdeveloped healthcare infrastructure. The growth and development of the market are influenced by macroeconomic factors such as economic growth, government policies, and investment in healthcare infrastructure.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.